Reply to post: Not just betting

Lloyds Bank bans Bitcoin purchases by credit card customers

DougS Silver badge

Not just betting

Most of the things you buy with a credit card will have no value after purchase, or go down in value. If you buy a week long luxury trip for $20,000, after that week it is worth zero - certainly less than bitcoin no matter how much further it falls. Most goods you buy will depreciate, some right out of the gate (diamond ring) and some after a little while (giant screen TV)

Buying something that maintains its value or even has a chance of going up in value is the exception, not the rule, for credit card purchases.

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